High yield loans appeal to Macquarie
Macquarie Bank plans to buy corporate debt at a discount and to seek out "special lending" situations to fund troubled corporates at high rates of interest, the Sydney Morning Herald reported.Macquarie is seeking high-yield lending opportunities worldwide and has established a dedicated business unit to seek out the opportunities. Ben Brazil crossed from corporate advisory to manage the new business unit, the newspaper reported.Over the last three months the bank has raised around $14 billion in long-term debt with the aid of the Australian government guarantee, more than any other bank.